The CyberMiles blockchain is a platform that supports many e-commerce applications — potentially even through ICOs of those applications. The 5miles C2C marketplace is the initial application to jumpstart the network. What are the reasons for new e-commerce applications to launch on CyberMiles?
First, all applications and companies can use the CyberMiles blockchain to manage their financial transactions. This “Transaction as a Service” (TaaS) is a much more advanced ledger than current financial systems companies use today.
- The CyberMiles Token can be used as a settlement currency, and eliminates expensive settlement charges from banks.
- The CyberMiles Smart Business Contracts can automate many aspects of business interactions that are done by humans today, including but not limited to escrow accounts, loan and insurance policies, supply chain financing etc.
- The CyberMiles blockchain enables companies to seamlessly work together with suppliers, financiers, and collaborators outside of the company, as they all share the same ledger and agree to the same Smart Business Contracts.
Learn more about the utility use of the CyberMiles Tokens (CMTs).
But that is only part of the story. A potentially even more valuable aspect of the CyberMiles platform is that it will start from 12 million American users and over $3 billion per year in transactions. This network size is already greater than today’s Bitcoin and Ethereum. Those user’s identity, credit history, reputation, and transactions will be recorded and managed securely by the blockchain. For companies in the e-commerce space, it is a great benefit to immediately have access to those users without having to bootstrap one’s own community and without having to manage the liability of potential privacy leaks.
Learn more about a new form of small business loans enabled by the CyberMiles blockchain data services.
CyberMiles provides a compelling platform to build new e-commerce applications and communities. It is the future Internet for e-commerce. Much of its value is built into the network protocol (consensus and Smart Business Contracts) and network services (eg. identity, credit), and hence the value is captured by the CMT tokens.